Southern Silver Closes $1.1 Million Non-Brokered Financing

Southern Silver Exploration (TSXV:SSV) has announced that it has closed its previously reported non-brokered private placement by issuing 11 million units at a price of $0.10 for gross proceeds of $1.1 million.
As quoted in the press release:

Each unit consisted of one common share and one share purchase warrant exercisable to purchase one additional common share for a period of five years at an exercise price of $0.15 per share.
Net proceeds from the private placement will be used for working capital and costs associated with claim maintenance, permitting and other exploration expenses. Specifically, some proceeds will be applied towards the assessment of the Oro property in New Mexico. Surface exploration consisting of prospecting and trenching is planned to resolve targeting prior to permitting the next phase of drilling on the project.
Finders’ fees and commissions may be paid by Southern Silver in relation to this Offering.

Click here to read the full press release.